HSBC (HSBC) is planning to downsize its equities team at the Dusseldorf office in Germany as part of CEO Georges Elhedery's strategy to overhaul the investment banking division, Bloomberg reported Friday, citing people close to the matter.
HSBC has already trimmed its investment bank division in recent months, as well as shuttered its US, UK, and European equity capital markets and M&A divisions, according to the report.
The lender didn't immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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